Han-Ping Shieh Sells 1,000 Shares of Silicon Motion Technology (NASDAQ:SIMO) Stock

Silicon Motion Technology Corporation (NASDAQ:SIMO) Director Han-Ping Shieh sold 1,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $328.00, for a total transaction of $328,000.00. Following the transaction, the director owned 7,500 shares in the company, valued at $2,460,000. This represents a 11.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Han-Ping Shieh also recently made the following trade(s):

• On Tuesday, June 2nd, Han-Ping Shieh sold 1,000 shares of Silicon Motion Technology stock. The stock was sold at an average price of $301.25, for a total transaction of $301,250.00.

Silicon Motion Technology Trading Down 1.9%

NASDAQ:SIMO traded down $5.92 during trading hours on Wednesday, reaching $313.08. The company had a trading volume of 163,839 shares, compared to its average volume of 847,468. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 62.24, a PEG ratio of 0.78 and a beta of 1.72. The firm’s 50 day moving average price is $240.86 and its 200-day moving average price is $158.75. Silicon Motion Technology Corporation has a 52 week low of $70.12 and a 52 week high of $355.00.

Silicon Motion Technology (NASDAQ:SIMO) last posted its quarterly earnings data on Tuesday, April 28th. The semiconductor producer reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.27. The company had revenue of $342.11 million during the quarter, compared to analysts’ expectations of $299.53 million. Silicon Motion Technology had a return on equity of 20.24% and a net margin of 16.02%.Silicon Motion Technology’s revenue for the quarter was up 105.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. On average, analysts forecast that Silicon Motion Technology Corporation will post 8.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SIMO. B. Riley Financial restated a “buy” rating on shares of Silicon Motion Technology in a research note on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on Silicon Motion Technology from $145.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Craig Hallum reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Silicon Motion Technology in a research note on Thursday, April 30th. Roth Mkm reaffirmed a “buy” rating and set a $250.00 price objective on shares of Silicon Motion Technology in a research report on Wednesday, April 29th. Finally, Zacks Research raised shares of Silicon Motion Technology from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Silicon Motion Technology currently has an average rating of “Buy” and a consensus target price of $246.43.

Institutional Investors Weigh In On Silicon Motion Technology

A number of institutional investors have recently bought and sold shares of SIMO. Wolf Hill Capital Management LP bought a new stake in Silicon Motion Technology during the fourth quarter valued at about $53,893,000. Hawk Ridge Capital Management LP boosted its stake in shares of Silicon Motion Technology by 111.3% in the fourth quarter. Hawk Ridge Capital Management LP now owns 787,747 shares of the semiconductor producer’s stock worth $73,024,000 after acquiring an additional 415,000 shares during the period. Man Group plc grew its position in shares of Silicon Motion Technology by 820.7% during the fourth quarter. Man Group plc now owns 381,048 shares of the semiconductor producer’s stock worth $35,323,000 after purchasing an additional 339,663 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Silicon Motion Technology by 112.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 425,697 shares of the semiconductor producer’s stock worth $47,802,000 after purchasing an additional 225,221 shares in the last quarter. Finally, AIGH Capital Management LLC bought a new stake in Silicon Motion Technology during the 1st quarter valued at approximately $22,458,000. Hedge funds and other institutional investors own 78.02% of the company’s stock.

Silicon Motion Technology Company Profile

Silicon Motion Technology Corporation, together with its subsidiaries, designs, develops, and markets NAND flash controllers for solid-state storage devices. The company offers controllers for computing-grade solid state drives (SSDs), which are used in PCs and other client devices; enterprise-grade SSDs used in data centers; eMMC and UFS mobile embedded storage for use in smartphones and IoT devices; flash memory cards and flash drives for use in expandable storage; and specialized SSDs that are used in industrial, commercial, and automotive applications.